News stories from Monday August 23, 1976
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Secretary of the Army Martin Hoffmann Intervened in the West Point cheating scandal by offering dismissed cadets a chance to apply for readmission to the United States Military Academy after a one-year period of "reflection", preferably while serving as enlisted men. He made the announcement while testifying before a Senate Armed Services subcommittee. There would be no guarantee that all dismissed cadets would be readmitted, but "a large number" would be, he said. He offered several other concessions In help alleviate what he called "this extraordinary situation." [New York Times]
- The House voted to ban within three years the manufacture of polychlorinated biphenyls, called PCB's, which have been linked to cancer and birth defects, water pollution and the contamination of wildlife. The ban was included in an amendment to the Toxic Substances Control Bill. A similar measure has passed the Senate, but without the PCB prohibition. The bill, however, with or without the PCB ban, faces the possibility of a veto by President Ford on the ground that its broad provisions would impose almost impossible testing requirements on the chemical industry. [New York Times]
- Most of the 1,982 inmates at Attica prison In upstate New York remained in their cells In a peaceful protest against conditions there and to call the state's attention to nine major demands. Prison officials notified state correction officials, who flew from Albany to participate in talks with leaders of the protest movement, which the inmates call a strike. [New York Times]
- South African police shot and killed one of the young black demonstrators in Soweto who stoned buses and trains in an attempt to force compliance with a three-day national strike among black workers on whom the economy of the white-ruled country depends. At least six of the demonstrators were wounded. Thousands of workers in Soweto decided not to challenge crowds of youths at railway and bus terminals, but the strike appeared to have little effect elsewhere in the country. [New York Times]
- An Egyptian airliner with more than 100 people aboard, mostly tourists, was seized by seven Arab guerrillas shortly after takeoff from Cairo this morning but was recaptured at an airport in southern Egypt tonight by government commandos. All those aboard were released unharmed. Egypt's Prime Minister said Muammar Qaddafi, the Libyan leader, was behind the hijacking. [New York Times]
- The State Department softened its position in regard to the message from President Kim Il Sung of North Korea expressing regrets about the killing of two American Army officers last week by North Korean troops. On Sunday, the department said that President Kim's message was "not acceptable," but the department statement today, ordered by Secretary of State Henry Kissinger, described the message as "a positive step." The department announced that the United States, seeking assurances on the safety of American personnel in the demilitarized zone established after the Korean War, had called for a meeting of the Korean armistice commission. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 971.49 (-2.58, -0.26%)
Arms Index is the ratio of volume per declining issue to volume per advancing issue; a figure below 1.0 is bullish. | |||||||||||||||
| Market Index Trends | |||
|---|---|---|---|
| Date | DJIA | S&P | Volume* |
| August 20, 1976 | 974.07 | 102.37 | 14.92 |
| August 19, 1976 | 983.88 | 103.39 | 17.23 |
| August 18, 1976 | 995.01 | 104.56 | 17.15 |
| August 17, 1976 | 999.34 | 104.80 | 18.50 |
| August 16, 1976 | 992.77 | 104.43 | 16.21 |
| August 13, 1976 | 990.19 | 104.25 | 13.93 |
| August 12, 1976 | 987.12 | 104.22 | 15.56 |
| August 11, 1976 | 986.79 | 104.06 | 18.71 |
| August 10, 1976 | 993.43 | 104.41 | 16.69 |
| August 9, 1976 | 983.46 | 103.49 | 11.70 |